1. Manero Company included the following information in its annual report:

	20X3				20X2				20X1
Sales	ps	178.400			ps	162,500			ps	155,500
cost of goods sold		115,000				102,500				100,000
operating expenses		50,000				50,000				45.000
operating income		13,400				10,000				10,500

In a trend income statement for 20X1, where 20X1 is the base year, what would be the sales percentage?

2. Condensed financial data is presented below for Phoenix Corporation:

	20X2				20X1
accounts receivable	ps	267,500			ps	230.000
Inventory		312,500				257,500
Total current assets		670.000				565.000
intangible assets		50,000				60.000
total assets		825,000				695,000
current liabilities		252,500				200,000
Long term passives		77,500				75,000
Sales		1,640,000
cost of goods sold		982,500
Interest expenses		10,000
Income from tax expenses		77,500
Net Income		127,500
Cash flow from operations		71,000
Cash flow from investing activities		(6,000	)
Cash flow from financing activities		(62,500	)
Tax rate		30	%

If there are no preferred shares, the return on ordinary shares for 20X2 is (rounded):

The days pending collection for 20X2 are (rounded):

Answer rating: 100% (QA)

1 To calculate the sales percentage in a trend income statement using 20X1 as the base year we need ... View the full answer